ATLANTA - Hines, the international real estate firm, announced today that they have reached an agreement to resume control of the office space previously leased to Macy’s Systems and Technology, Inc. in its T3 West Midtown development. Formerly listed with CBRE, the 107,712 square feet of office space will once again be marketed directly by Hines on behalf of the building’s ownership. The announcement comes at a time when the Atlanta office market is seeing increased investment from Fortune 500 tech firms, with over 1 million square feet leased within the last year.
"Atlanta and specifically West Midtown, has become a competitive player in the national office market, with major investments from tech firms like Microsoft, Google, Facebook and many others placing Atlanta on the national stage," said John Heagy, senior managing director with Hines. "Already this year, our team has seen significant interest in T3 West Midtown and renewed energy in the market’s leasing landscape overall. High-caliber companies are looking at Atlanta more than ever, and we are confident the West Midtown office market will continue to attract those companies looking to recruit and retain top talent."
As leaders in the West Midtown submarket, Hines developed both T3 West Midtown and Atlantic Yards. Current tenants at T3 West Midtown include Facebook, Haworth and Interior Architects, an international design firm. The 232,141-square-foot heavy-timber office development is the largest of its kind in the country featuring shared social workspace, a rooftop terrace, a state-of-the-art fitness center and access to Atlanta's premier intown shopping center, Atlantic Station. Last year, Hines announced the full-building lease of the 523,511-square-foot Atlantic Yards to Microsoft.
“Even in a year of uncertainty, the West Midtown office market was able to secure the region’s largest office lease,” said Tori Kerr, managing director with Hines. “Relisting this space directly with Hines, combined with other direct vacancy, creates the unique opportunity to accommodate a much larger user looking to find a new home at T3. We are confident in our ability to fill the building with innovative and growing tenants this year.”
T3 West Midtown and Atlantic Yards are part of a larger transformation underway at Atlantic Station, which is managed by Hines. The redevelopment of Atlantic Station has reintroduced the retail village to the marketplace with the brand-new Atlantic Green, enhanced tenant mix, new retail and restaurant offerings, additional hospitality options, and the inclusion of new multifamily residential units.
For more information on T3 West Midtown, https://t3westmidtown.com/.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 225 cities in 25 countries. Hines has approximately $144.1 billion¹ of assets under management, including $75.5 billion for which Hines serves as investment manager, including non-real estate assets, and $68.6 billion for which Hines provides third-party property-level services. The firm has 165 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,426 properties, totaling over 472 million square feet. The firm’s current property and asset management portfolio includes 576 properties, representing over 246 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information. ¹AUM includes both the global Hines organization as well as RIA AUM.